Cotton futures showed slight volatility on Tuesday, closing just 2 points down at 61.59, while May and July cotton contracts rose marginally. The USDA adjusted its WASDE balance sheet, cutting U.S. cotton exports by 200,000 bales and raising ending stocks to 4.4 million bales. World ending stocks were also raised by 630,000 bales, totaling 75.11 million bales.
In other commodity data, crude oil futures decreased by $0.16 to $64.20 per barrel, and the U.S. dollar index increased by 0.042 to 96.730. Cotton Ginnings data recorded 507,350 running bales ginned from January 15 to February 1, with a marketing year total of 13.202 million running bales. On February 9, The Seam reported the sale of 10,196 bales at an average price of 58.01 cents per pound.
